Alcon appoints new chairman of the board

Alcon has announced the appointment of Dr Daniel Vasella as its new chairman of the board, a move that forges stronger ties to its new majority shareholder Novartis.

Dr Vasella, who is also chairman of Novartis' board, has been selected for the role following Novartis' purchase of 52 percent of Alcon's shares from Nestle in August 2010, which brought its total stake in the company up to 76 percent.

He has been a member of Alcon's board since July 2008 and replaces former chairman Cary Rayment, who will now continue on in the role of vice-chairman.

Kevin Buehler, Alcon's president and chief executive officer, thanked Mr Rayment for his contributions to the company while offering praise to the new chairman.

He said: "I welcome Dr Vasella into the chairman position and look forward to working with him on Alcon board matters."

Last week, Alcon published its financial report for the third quarter of 2010, highlighting a nine percent year-on-year growth in sales.